Delta Debt: Governor Oborevwori has Repaid N130 Billion Naira – Ofou

Governor Sheriff Oborevwori has achieved yet another milestone in the financial ecosystem of the state, as his young administration has repaid  the sum of N130 billion out of the N465 billion debt inherited from the past administration.

This development was disclosed by his Executive Assistant (New Media), Mr. Felix Ofou during a press briefing in Asaba, on Tuesday, August 7, 2024.

Ofou stated that under the leadership of Governor Sheriff Oborevwori, the administration has prioritized fiscal responsibility. “This administration inherited N465 billion, and by March 2024, Governor Oborevwori’s government had managed to reduce the debt by paying over N130 billion,” Ofu stated.

He emphasized that the debt reduction will alleviate the financial strain on both current and future administrations.

In addition to debt repayment, the veteran journalist stated that, the Oborevwori administration has further demonstrated prudent financial management by saving over N205 billion in surplus funds. “This level of financial prudence is unprecedented since the creation of Delta State,” Ofou noted.

He also pointed out that the current administration has not borrowed any funds since taking office on May 29, 2023, countering public skepticism about the use of state funds.

He emphasized that the administration’s financial discipline extends to its execution of various state projects and that the governor cannot be accused of fund mismanagement, given the numerous completed and ongoing projects funded by the state’s resources.

Also speaking at the press briefing, Executive Assistant (Media) Mr. Nobert Chiazor, appluaded Governor Oborevwori’s achievements, particularly the N78 billion contract awarded to Julius Berger.

He described the project as transformative for the Warri region and a testament to the administration’s commitment to open and transparent governance.